FINANCE: Cumbria Local Government Pension Scheme has invested £35m into the Aviva Investors Lime Property Fund.
The open-ended Lime Property Fund, managed by Renos Booth, crossed the £1bn mark last year, and owns 54 properties across the UK in a range of different sectors. The fund has returned 5.5-6% since its creation in 2004.
Fiona Miller, senior manager, pensions & financial services at Cumbria county council, said: “We chose the Aviva Investors Property Lime Fund to provide the twofold benefits of diversification and stable income generation within our defensive asset allocation.
“This commitment is part of a conscious strategy change required to help address the issue of our maturing liability profile.”
sophia.furber@estatesgazette.com
